HDFC Bank bond sale

HDFC Bank Ltd sold Rs 200 crore bonds on private placement basis through unsecured non-convertible subordinated perpetual bonds in the nature of debentures to augment its Tier-I capital, said a BSE announcement. The coupon rate for the issue will be 9.92 per cent. There will be a step-up of 1 per cent, said a senior HDFC Bank official.

(This article was published in the Business Line print edition dated September 9, 2006)

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